Locke v. Towler
Appellate Court of Illinois
Appeal from the Circuit Court of Cook County; the Hon. Geobge Deiggs, Judge, presiding. The Circuit Court sustained a demurrer to the declaration in this action, consisting of the following counts: Whereas, heretofore, on, to wit, the 10th day of June, 1884, said defendant then being a stockholder and director in a corporation known as the Illinois Wagon Company, which corporation was then lately organized under the laws of the State of Illinois, and its stock then 'being…
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Appeal from the Circuit Court of Cook County; the Hon. Geobge Deiggs, Judge, presiding. The Circuit Court sustained a demurrer to the declaration in this action, consisting of the following counts: Whereas, heretofore, on, to wit, the 10th day of June, 1884, said defendant then being a stockholder and director in a corporation known as the Illinois Wagon Company, which corporation was then lately organized under the laws of the State of Illinois, and its stock then 'being placed upon the market, said defendant then being desirous of selling said stock to persons friendly to himself, that he…
1Opinion of the CourtMoran, P. J.
The words of the two letters that form the contract in writing between the parties, merely gave to the plaintiff the option to sell the stock at a future time. He did not by the terms of the agreement sell, nor was he bound to sell, when the time named expired; nor did the defendant buy, but he contracted to do so after 1885, if plaintiff would then sell at the price named.
The contract is clearly within the inhibition of Sec. 130 of the Criminal Code, and is similar to the one held void in Schnider v. Turner, 27 Ill. App. 220, and 130 Ill. 28.
A like contract relating to the purchase of coal…
2Cases cited3 opinions
- Schneider v. TurnerIllinois Supreme Court · 1889
- Schneider v. TurnerAppellate Court of Illinois · 1888
- Corcoran v. Lehigh & Franklin Coal Co.Appellate Court of Illinois · 1891
3Cited by7 opinions
- Wolsey v. NeeleyAppellate Court of Illinois · 1896
- Campion v. SmithAppellate Court of Illinois · 1892
- Oliver v. GerstleAppellate Court of Illinois · 1895
- Wolsey v. NeeleyAppellate Court of Illinois · 1892
- Kerting v. HiltonAppellate Court of Illinois · 1894
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